Capital Wealth Planning LLC Invests $9.30 Million in British American Tobacco p.l.c. $BTI

Capital Wealth Planning LLC acquired a new stake in British American Tobacco p.l.c. (NYSE:BTI) during the third quarter, Holdings Channel reports. The fund acquired 175,224 shares of the company’s stock, valued at approximately $9,301,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. City State Bank raised its position in British American Tobacco by 10.5% in the third quarter. City State Bank now owns 2,105 shares of the company’s stock valued at $112,000 after purchasing an additional 200 shares during the period. Salem Investment Counselors Inc. increased its position in shares of British American Tobacco by 48.6% during the 3rd quarter. Salem Investment Counselors Inc. now owns 633 shares of the company’s stock worth $34,000 after purchasing an additional 207 shares during the last quarter. Western Wealth Management LLC raised its holdings in British American Tobacco by 2.5% in the 2nd quarter. Western Wealth Management LLC now owns 8,656 shares of the company’s stock valued at $410,000 after buying an additional 208 shares during the period. Signature Estate & Investment Advisors LLC lifted its position in British American Tobacco by 2.0% in the third quarter. Signature Estate & Investment Advisors LLC now owns 11,524 shares of the company’s stock valued at $612,000 after buying an additional 222 shares during the last quarter. Finally, TD Waterhouse Canada Inc. lifted its position in British American Tobacco by 1.2% in the second quarter. TD Waterhouse Canada Inc. now owns 19,598 shares of the company’s stock valued at $915,000 after buying an additional 223 shares during the last quarter. Institutional investors and hedge funds own 16.16% of the company’s stock.

Analysts Set New Price Targets

BTI has been the subject of a number of recent analyst reports. Kepler Capital Markets assumed coverage on shares of British American Tobacco in a research report on Friday, December 12th. They set a “buy” rating for the company. Citigroup reaffirmed a “buy” rating on shares of British American Tobacco in a research report on Friday, November 28th. Wall Street Zen upgraded shares of British American Tobacco from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of British American Tobacco in a research note on Friday, November 28th. Finally, Weiss Ratings upgraded British American Tobacco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 17th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. Based on data from MarketBeat, British American Tobacco has a consensus rating of “Moderate Buy” and an average target price of $51.00.

British American Tobacco Trading Up 0.1%

Shares of BTI opened at $59.93 on Friday. The company’s 50-day simple moving average is $59.37 and its 200-day simple moving average is $56.42. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.87 and a quick ratio of 0.57. British American Tobacco p.l.c. has a 1 year low of $37.96 and a 1 year high of $63.22.

British American Tobacco Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 8th. Shareholders of record on Tuesday, December 29th will be issued a dividend of $0.8349 per share. The ex-dividend date is Tuesday, December 29th. This represents a $3.34 dividend on an annualized basis and a yield of 5.6%.

About British American Tobacco

British American Tobacco plc (BTI) is a multinational tobacco manufacturer and nicotine products company headquartered in London. Founded in 1902 as a joint venture to commercialize tobacco products outside the United States, the company has grown into one of the world’s largest tobacco firms with a long history in manufacturing and global distribution of combustible tobacco products.

BAT’s core business remains the manufacture and sale of cigarettes and other tobacco products under a portfolio of well-known consumer brands, including Dunhill, Lucky Strike, Pall Mall, Kent and Rothmans.